This could in part be attributed to the difficulties to actually observe the acquired skills Pankhurst, In this context, VET is of particular interest because there are reasons to believe that it is superior to general education from a socializing point of view, as well as in promoting access to the labour market.
The European Commission has identified six priorities as crucial to promote social inclusion. According to human capital theory, a high rate of return to investments in human capital could indicate that it also constitutes an engine of growth.
Nigeria must learn to blend theory and practice in its education because theories alone cannot serve any useful purpose.
In the same vein, as a result of poor training, some of the commercial drivers have sent many people to their early graves.
They indicate that VET represents no more than 1—3 percent of the total stock of human capital, with the peak at 3 percent in Using a Mincerian schooling model, 4 it was found that an additional year in school increased earnings by about 6 percent throughout the period.
It presupposes, however, functioning markets and in particular a functioning labour market.
Secondly, it is seen as a potentially powerful tool for fostering social inclusion. For example, if you want to be an emergency medical technician, you can be ready to work after going to school for one semester.
His empirical analysis suggests that many countries, whilst having a large educated population, remain unable to make significant progress.